The European Central Bank (ECB) has published a Eurosystem financial literacy network report finding that women score significantly lower than men on financial knowledge in 18 of the 20 European Union member states studied, despite broadly comparable financial behaviour. Based on 2022 survey data, the analysis identifies the largest knowledge gaps in investment topics and recommends financial education tailored to national conditions. Differences persist after accounting for individual characteristics, including education and employment. Women are 11% less likely to be top performers and 4% more likely to be low performers than men with similar characteristics. Higher financial knowledge is also associated with greater financial resilience and investment participation. The report’s correlational models associate a move from no financial knowledge to the maximum score with an increase in the probability of financial resilience from 12% to 41%. The corresponding probability of holding investment products rises from 15% to 44%. The policy recommendations focus on strengthening women’s investment knowledge and confidence while building on their existing financial habits, which are often more prudent than men’s. National strategies should reflect differences in the distribution of financial knowledge and the factors associated with each country’s gender gap. Further research into institutional and structural differences could help identify which approaches can be adapted across member states.

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